• XRP is trading at $0.253 after a 4.5% price increase in the past 24 hours.
  • Similar to other cryptocurrencies, the cross-border payments giant had a spike thanks to PayPal.

It seemed that XRP was left behind as Bitcoin continued climbing towards and above $12,000. However, in the past 24 hours, the digital asset has risen from $0.242 to a high of $0.255. More importantly, it seems that the price is close to a critical resistance level.

If XRP cracks this significant level, it can jump 15%

It seems that XRP formed an ascending triangle on the daily chart and the price is close to the upper boundary. Bulls have already conquered the 50-SMA on the daily chart, turning the moving average into a support level.

XRP/USD daily chart

xrp price

The 100-SMA is the next price target as bulls hope to close above it. The MACD is inches away from turning bullish again as XRP approaches the critical resistance level at $0.26. A breakout above this level can easily drive the price of the digital asset towards $0.3.

XRP/USD 4-hour chart

xrp price

On the 4-hour chart, XRP has crossed above the 200-SMA, 100-SMA, and 50-SMA, turning all three moving averages into support levels. The MACD remained bullish since the re-test of the lower boundary on October 16. There are no resistance levels until the upper trendline of the daily pattern at $0.26.

XRP/USD 12-hour chart

xrp price

On the other hand, the 12-hour chart shows a strong resistance point at $0.255 where the 200-SMA stands. So far, the price has been rejected from this level and could turn the MACD bearish again. The next price target for the bears would be where the 100-SMA and the 50-SMA coincide at $0.245. 

Critical price levels to keep in mind

A bullish breakout above the upper boundary of the ascending triangle pattern formed on the daily chart at $0.26 can drive XRP towards $0.3. On the flip side, the rejection from the 200-SMA on the 12-hour chart can push the digital asset down to $0.245.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Is there more upside to Dogecoin-killer Shiba Inu’s rally after 100% gain in 90 days?

Is there more upside to Dogecoin-killer Shiba Inu’s rally after 100% gain in 90 days?

Shiba Inu token burn rate climbed by 67% since February 4. A total of 13,518,918 SHIB tokens have been burned according to the Shibburn portal. The meme coin gained 100% against competitor Dogecoin in the last 90 days. 

More Shiba Inu News

Why Bitcoin is still in a bear market and what this means for BTC price?

Why Bitcoin is still in a bear market and what this means for BTC price?

Bitcoin is currently in a bear market, according to analysts despite the massive rally of January. The selling pressure on the asset has reduced with miner inflow to exchanges declining to multi-year lows. 

More Bitcoin News

Here's what the new Dogecoin fork means for DOGE hodlers

Here's what the new Dogecoin fork means for DOGE hodlers

EthereumFair, the project that brands itself as the world’s first Ethereum fork is in talks with the Dogecoin community for a fork. The team proposes retaining DOGE’s consensus algorithm and changing the mining algorithm to make it compatible with Ethereum graphics card mining. 

More Dogecoin News

What to expect from US CFTC’s landmark crypto enforcement in 2023

What to expect from US CFTC’s landmark crypto enforcement in 2023

United States Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has said he will be continuing efforts for the agency to regulate cryptocurrencies, that is non-security tokens. In his remarks at the American Bar Association, Behnam said that the CFTC is well positioned to address regulatory gaps in crypto. 

More Crypto News

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

Read full analysis

BTC

ETH

XRP